Ying Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the table below.

Corporate tax rate is 38 prcent, what is the after-tax cost of the company's debt?

Bond	Coupon Rate	Price Quote	Matutiry	Face Value
1	8.70%	106.2	7 years	$21,000,000
2	6.70	94.2	10 years	37,000,000
3	8.40	105.0	17.5 years	42,000,000
4	8.90	94.7	24 years	57,000,000